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Beecroft: Is now the time to buy GBP?

Is now the time to buy sterling? Nick Beecroft, the Chairman of Saxo Capital Markets is certainly bullish about the pound's prospects longer term, although he's warning of considerable volatility over the coming months. GBPUSD has lost some 12% in the past six months.

The UK general election on May 7th is the big unknown for the markets, given that there's no clear front runner right now. Nick says should David Cameron and his Conservative Party win an outright majority, this will be good for the pound. Likewise, should Labour win, it's unlikely that a referendum on the UK's membership of the European Union would be held which could also be sterling supportive.

02:34 minutes
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